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Goldman Sachs revealed it shorted Gulf of Mexico
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| Contributor | kal |
| Last Edited | kal May 04, 2010 06:48am |
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| Category | General |
| News Date | Tuesday, May 4, 2010 12:00:00 PM UTC0:0 |
| Description | In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today that it made "a substantial financial bet against the Gulf of Mexico" one day before the sinking of an oil rig in that body of water.
The new revelations came to light after government investigators turned up new emails from Goldman employee Fabrice "Fabulous Fab" Tourre in which he bragged to a girlfriend that the firm was taking a "big short" position on the Gulf.
"One oil rig goes down and we're going to be rolling in dough," Mr. Tourre wrote in one email. "Suck it, fishies and birdies!"
The news about Goldman's bet against the Gulf comes on the heels of embarrassing revelations that the firm had taken a short position on Lindsay Lohan's acting career.
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